Specialty-biopharmaceutical company Armetheon Inc. has raised $24 million in Series B financing to prepare for Phase III clinical studies of an anticoagulant that avoids adverse drug reactions associated with the commonly used blood thinner warfarin.

Warfarin is used to prevent blood clots and to prevent existing clots from growing larger. It is used in many cases, such as certain patients with irregular heartbeat, heart attack patients and people with prosthetic heart valves.

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